Project Valuation & Capital Structuring Proposal

Prepared for Yves Barroukh to establish an indicative paper-project valuation, coordinate third-party valuation and audit support, and structure financing against the project's development rights.

Indicative Paper Project Value

$40,000,000

Approximate value excluding land

Illustrative Borrowing Capacity

$20,000,000

Based on 50% advance rate

Initial Work Fee

$250,000

Reimbursable upon completion

Success Fee

$2,000,000

5% of valuation amount

Executive Summary

We propose to establish an approximate current paper-project value of$40,000,000for the development rights only, exclusive of land value.

Based on this valuation, the project may support borrowing capacity of up to$20,000,000, subject to lender diligence, structure, and third-party valuation confirmation.

Our engagement includes a reimbursable work fee of$250,000, covering coordination of real estate valuation and auditors such as Mazars.

Upon successful completion, we would receive a5% success feeof the valuation amount, together with warrants in the project for up to5%at development cost.

Core Economics

Proposed Commercial Terms

Indicative Only

Indicative valuation$40,000,000

Indicative debt capacity (50%)$20,000,000

Reimbursable work fee$250,000

Closing / success fee5% ($2,000,000)

Project warrantsUp to 5% at development cost

Implied warrant value at cost$2,000,000

Execution Roadmap

How We Would Execute

Project Intake & Diligence

Review project materials, entitlement package, development concept, financial assumptions, and sponsor objectives.

Real Estate Valuation

Coordinate independent real estate valuation to support an approximate paper-project value around $40 million, subject to third-party review.

Audit & Fairness Support

Engage recognized auditors such as Mazars to review methodology and support fund or institutional presentation requirements.

Financing Strategy

Target borrowing at up to 50% of valuation, with structured capital tailored to the development and sponsor timeline.

Value Illustration

Capital Stack Snapshot

This illustration shows the indicative paper-project valuation, the targeted financing capacity, and the sponsor economics associated with the proposed advisory engagement.

Paper Project

$40,000,000

Debt Capacity

$20,000,000

Warrants

Up to 5%

Debt 50%

Remaining Equity / Value 50%

5% fee on valuation amount$250K work fee reimbursed at completionMazars / valuation coordination included

Proposal Counterparty

Prepared for Yves Barroukh

This presentation is intended to frame a structured engagement around valuation, capital raising, and sponsor alignment for the project. Final economics, audit scope, third-party engagement terms, and financing structure remain subject to documentation, diligence, and approval by all relevant parties.

Sponsor Outcome

$20,000,000

Illustrative financing potential based on the proposed valuation framework.